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A fund owned by African private equity company Ascent investing in small and medium sized enterprises in Eastern Africa, has closed with over USD 100 million in capital commitments.
Ascent Capital raises Sh11bn to invest in regional SMEs
Wednesday May 19 2021
By JULIANS AMBOKO
Summary
The cash was raised from the World Bank Group’s private sector arm, the International Finance Corp (IFC), the UK government-owned finance agency, the CDC Group, Dutch development financier FMO, and the French development finance institution
Ascent said it will invest between Sh537 million and a maximum of Sh2.1 billion in firms across growth sectors like financial services, manufacturing, trade, education and health sectors in Kenya, Ethiopia, Uganda, Tanzania and Rwanda.
Nairobi-based private equity (PE) firm Ascent Capital has raised from $100 million (Sh10.7 billion) from the World Bank and top sovereign funds for acquiring stakes in local companies across Eastern African.
Adel Amrouche has revealed Kenta international David Owino lost a massive opportunity to play in Europe after opting to join his then team Gor Mahia in the Cecafa Club Championship in Rwanda in 2014.